Traunkirchen’s Russenvilla draws foreign buyers as bidding begins

The historic Pantschoulidzeff Villa in Traunkirchen is attracting strong interest from abroad as its owner, the Hesz Private Foundation, prepares to sell the property, ORF reports. The foundation has already received an offer of 15 million euros and expects a bidding process.

The villa on Traunkirchen’s Kalvarienberg was bought 16 years ago, according to Jürgen Hesz. The property includes around 600 square metres of living space, a 32,000-square-metre plot and a lakeside property with a landing stage.

A comprehensive renovation was originally planned. Hesz said a two-digit million-euro sum had been invested in appraisals and planning alone. The planned work, including an extension, an underground garage and the relocation of a path, was estimated to cost 3 million euros.

Despite the existing 15 million-euro offer, the foundation will proceed with a bidding process. Hesz said the foundation was required to do so and had appraisals that valued the property significantly higher. The foundation board decided to seek a price reflecting its potential market value.

Hesz expects negotiations with interested buyers to be completed this year.